Mentha oil up 0.42% in futures trade on spot demand

Mentha oil prices were higher by 0.42% to Rs 668.30 per kg in futures trading today as speculators indulged in creating fresh positions, driven by pick-up in demand from consuming industries in spot market.

 

Besides, restricted arrivals from Chandausi in Uttar Pradesh also supported the upside.

 

At the Multi Commodity Exchange, mentha oil for delivery in September rose by Rs 2.80, or 0.42%, to Rs 668.30 per kg in business turnover of 92 lots.

 

In a similar fashion, the oil for delivery in October went up by Rs 2.70, or 0.40% to Rs 679 per kg in 25 lots.

 

Market analysts said pick-up in demand from consuming industries in the spot market against restricted arrivals from Chandausi in Uttar Pradesh mainly led to the rise in mentha oil prices at futures trade.